Net profit of Future Enterprises rose 615.37% to Rs 315.48 crore in the quarter ended June 2016 as against Rs 44.10 crore during the previous quarter ended June 2015. Sales declined 67.64% to Rs 921.19 crore in the quarter ended June 2016 as against Rs 2846.84 crore during the previous quarter ended June 2015.

Particulars

Quarter Ended

n++

Jun. 2016

Jun. 2015

% Var.

Sales

921.19

2846.84

-68

OPM %

24.96

9.91

-

PBDT

295.07

184.13

60

PBT

142.32

49.92

185

NP

315.48

44.10

615

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Jubilant FoodWorks drops after resignation of its CEO

Sep 20,2016

The announcement was made after market hours yesterday, 19 September 2016.

Meanwhile, the S&P BSE Sensex was down 151.92 points or 0.53% at 28,482.58.

On BSE, so far 3.58 lakh shares were traded in the counter as against average daily volume of 44,498 shares in the past one quarter. The stock hit a high of Rs 950 and a low of Rs 923.50 so far during the day. The stock had hit a 52-week low of Rs 896.65 on 12 February 2016. The stock had hit a 52-week high of Rs 1,689.30 on 6 October 2015. The stock had underperformed the market over the past one month till 19 September 2016, falling 18.03% compared with Sensexs 1.99% rise. The scrip had also underperformed the market in past one quarter, sliding 6.71% as against Sensexs 7.54% rise.

The mid-cap company has equity capital of Rs 65.84 crore. Face value per share is Rs 10.

Jubilant FoodWorks said that the board of directors of the company at a meeting held on 19 September accepted resignation of Ajay Kaul as the chief executive officer (CEO) cum whole time director of the company. He has decided to step down as the CEO cum whole time director of the company to evaluate and pursue opportunities outside the Jubilant Bhartia group. Ajay Kaul will continue in his current role till 31 March 2017. The company has also initiated the process of identifying his successor.

Jubilant FoodWorks and its subsidiary operates Dominos Pizza brand with the exclusive rights for India, Nepal, Bangladesh and Sri Lanka.

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Womens Next Loungeries to hold board meeting

Sep 20,2016

Womens Next Loungeries will hold a meeting of the Board of Directors of the Company on 24 September 2016.

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Persistent Systems to hold board meeting

Sep 20,2016

Persistent Systems will hold a meeting of the Board of Directors of the Company on 22 October 2016 to consider the Audited Financial Results for the quarter and half year ended September 30, 2016 (Q2).

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Alok Industries to hold board meeting

Sep 20,2016

Alok Industries will hold a meeting of the Board of Directors of the Company on 24 September 2016.

Yes Bank announced that it continued to be the First and Only Indian Bank to be selected as in index component of the Dow Jones Sustainability Indices (DJSI) in the Emerging Markets Index. The selection is effective from 19 September 2016 and would be valid for one year. This is the second year in the row where Yes Bank has been selected as part of the DJSI.

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Volumes jump at Castrol India counter

Sep 20,2016

Castrol India clocked volume of 5.7 crore shares by 13:25 IST on BSE, a 346.51-times surge over two-week average daily volume of 1.65 lakh shares. The stock was up 8.75% at Rs 459.40.

Virinchi saw volume of 8.5 lakh shares, a 6.66-fold rise over two-week average daily volume of 1.28 lakh shares. The stock was locked at 10% upper circuit at Rs 84.70.

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ADB Approves Funds to Build Indias First Coastal Industrial Corridor

Sep 20,2016

The Asian Development Bank (ADB) today approved $631 million in loans and grants to develop the first key 800-kilometer section of a planned 2,500-kilometer-long East Coast Economic Corridor that will spur development on Indias eastern coast and create seamless trade links with other parts of South and Southeast Asia.

The Visakhapatnam-Chennai Industrial Corridor section of the East Coast Economic Corridor, connecting four economic hubs and nine industrial clusters, will mark the first industrial corridor developed along Indias coast. The East Coast Economic Corridor will ultimately extend from Kolkata in West Bengal in the northeast of India to Tuticorin in Tamil Nadu near the southern-most point of the country.

n++By combining state-of-the-art industrial clusters, efficient transport, and reliable water and power supplies with a skilled workforce and good business policies, we expect the Visakhapatnam-Chennai industrial corridor to become a favored investment destination,n++ said Manoj Sharma, Principal Urban Development Specialist, in ADBs South Asia Department. n++We estimate that by 2025, annual industrial output along the corridor will increase fourfold to $64 billion from about $16 billion in 2015 if investment opportunities are maximized over the coming 10 years.n++

The Indian government is keen to encourage manufacturing, including through its n++Make in Indian++ initiative, to maintain strong economic growth over the longer term and to create productive, well-paying jobs for a labor force that is growing by around 12 million people per year. Currently, manufacturing provides around 15% of Indias gross domestic product (GDP) and around 12% in Andhra Pradesh where the new corridor will be developed. Indias National Manufacturing Policy is targeting manufacturing contributing at least 25% of GDP by 2022, much the same as in the Peoples Republic of China, Malaysia, and Viet Nam now.

ADBs loans and grants comprise a $500 million two-tranche facility to build key infrastructure and a $125 million two-tranche loan to help with industrial policies and business promotion.

There will also be a $5 million grant from the multi-donor Urban Climate Change Resilience Trust Fund that is managed by ADB to build climate change resilient infrastructure and a $1 million technical assistance to help the Andhra Pradesh local government manage the corridor. The Indian government will provide extra funding of $215 million to the $846 million project.

The new infrastructure will be built in the four main centers along the corridor - Visakhapatnam, Kakinada, Amaravati, and Yerpedu-Srikalahasti - as well as in nearby industrial areas. It will include 138 kilometers of state highways and roads, effluent and water treatment plants, 488 kilometers of drinking water pipes, 47 kilometers of storm drains, 10 power substations, and 281 kilometers of power transmission and distribution lines.

The program will also focus on increasing womens participation in the industrial workforce. Skills training for 25,000 male and female workers, entrepreneurs, and students along with an investor promotion plan is expected to help develop businesses along the corridor.

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NBCC (India) gains after being nominated as LMA

Sep 20,2016

The announcement was made after market hours yesterday, 19 September 2016.

Meanwhile, the S&P BSE Sensex was down 111.99 points or 0.39% at 28,522.51

On BSE, so far 81,000 shares were traded in the counter as against average daily volume of 2.43 lakh shares in the past one quarter. The stock hit a high of Rs 258.95 and a low of Rs 252.05 so far during the day. The stock had hit a 52-week high of Rs 267 on 13 July 2016. The stock had hit a 52-week low of Rs 162 on 12 February 2016. The stock had outperformed the market over the past 30 days till 19 September 2016, rising 4.14% compared with Sensexs 1.99% rise. The scrip also outperformed the market in past one quarter, gaining 35.93% as against Sensexs 6.79% rise.

The large-cap company has equity capital of Rs 120 crore. Face value per share is Rs 2.

NBCC (India) announced that it has been nominated as the Land Management Agency (LMA) for disposal of land assets of the sick central public sector enterprises (CPSEs). NBCC (India) as LMA, will manage, maintain and protect the land assets of sick CPSEs and shall be paid fee for the same till it is disposed off.

NBCC (India) in consultation with the concerned CPSE will prepare development plan of each land parcel after examining prevailing development control norms. Further, the company will also invite expression of interest (EOI) and will offer for purchase of land at the prevailing circle rate/ acquisition cost from all government entities in order of priority. NBCC (India) will be paid 0.5% of the value realized from disposal of land, subject to maximum of Rs 1 crore in each case. The governments measure for utilisation of the idle land of different sick CPSEs in time bound manner, will definetly boost the countrys economy and give enormous business opportunities to the company, NBCC (India) said. It may be recalled that the Government of India had on 7 September 2016 issued a guidelines for closure of sick/ loss making CPSEs including disposal of their movable and immovable assets.

NBCC (India) is a blue-chip Government of India (GoI) Navratna Enterprise under the Ministry of Urban Development, in construction sector. The GoI held 90% stake in the firm (as per shareholding pattern as on 30 June 2016).

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Bharat Rasayan hits record high after robust Q1 result

Sep 20,2016

The announcement was made after market hours yesterday, 19 September 2016.

Meanwhile, the S&P BSE Sensex was down 116.83 points or 0.41% at 28,517.67

On BSE, so far 6,855 shares were traded in the counter as against average daily volume of 599 shares in the past one quarter. The stock hit a high of Rs 1,730 in intraday trade so far, which is record high for the counter. The stock hit a low of Rs 1,598 so far during the day. The stock had hit a 52-week low of Rs 800 on 9 November 2015.

The small-cap company has equity capital of Rs 4.25 crore. Face value per share is Rs 10.

Bharat Rasayan serves a wide range of industries including but not limited to pharmaceuticals, bulk drugs, R&D, petrochemicals, flavors & fragrances and specialty chemicals. The company provides custom manufacturing/contract manufacturing of diverse compounds to meet the unique needs of every client. In addition, it offers a number of grignard reagents, pharma / drug intermediates and solvents on a regular basis.

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Khaitan Electricals announces resignation of director

Sep 20,2016

Khaitan Electricals announced that Madan Gopal Todi has resigned as Independent Director of the Company with effect from 19 September 2016 due to medical ground and pre-occupation.

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Furnishing details on the data bank is compulsory for all MSMEs: Secy MSME

Sep 20,2016

Mr. K K Jalan, Secretary, Ministry of Micro, Small and Medium Enterprises (MSME), today urged the Micro, Small and Medium Enterprises (MSMEs) in the country to update the details of their enterprises on the MSME data bank. This, he said was mandatory the updated data would be used for evolving parameters for the growth of MSMEs in the country.

Mr. Jalan said that the government was also planning to identify 25-30 sub-sectors in MSMEs and focus on these sectors for raising productivity and enhancing the overall landscape of MSMEs.

Mr. Jalan said that there was a need to carry out academic work in the space to understand the challenges and issues of the sector. He suggested that FICCI should come out with knowledge papers focusing on the specific concerns of the sector.

Speaking about the financing aspect of the MSMEs, Mr. Jalan said that there was a need to carry out research in this area as it has been seen that SME credit by banks was going down. He suggested that for MSMEs, a dedicated financing institute could be established like private sector non-banking financial companies (NBFCs).

Mr. Jalan said that in the MSMEs, manufacturing has been the focus area but now was the time to look at MSME in a holistic perspective. MSMEs in services, training, retail and wholesale and ancillary industries of big companies, traditional set ups, should also be given due importance. He added that employment generation and import substitution should also be focused on.

Ms. Pannuda Boonpala, Director, ILO India, said that In India, the Governments efforts to support the MSME sector through initiatives such as Make in India or Start Up India reflect the importance of this sector to national development, and hold great promise. As part of its contribution to strengthening the MSME sector, the ILO in India has introduced programmes such as the Start and Improve Your Business (SIYB) to help set up micro- and small enterprises and to run and expand them successfully, and, for more established SMEs, the Sustaining Competitive and Responsible Enterprises or SCORE programme, which helps improve productivity, competitiveness and job quality of SMEs.

Ms. Boonpala said that about 10,000 persons have been trained in SIYB, with an average business start-up rate of about 55%, and a job creation rate of 2.4 jobs per enterprise, while beneficiaries of the SCORE programme, which has so far been implemented in 100 factories thanks to a network of 20 trainers, have reported improvements of 20% or more against key industry benchmarks such as process efficiency, reduction in defects, or on-time delivery. She added that the key objective for the coming years will now be to upscale these programmes and to ensure their sustainable implementation.

Hindustan Tin Works, said that to propel MSMEs there was a need to build an enabling environment for MSMEs. The Government was already working on a MSME Policy, but he suggested that the MSME Policy document must contain some provision for sector specific dedicated industrial estate/ clusters for MSMEs with the support from State Government. Also, micro enterprises should be exempted from all compliance, inspection and labour laws for certain period. A guide could be provided to them on the compliances that they need to adhere to in those years. In order to make MSMEs grow vertically, MSMEs should be facilitated with the tax benefits linked to direct employment generated by MSMEs and Start-up businesses. As per policy benefits, MSMEs adopting latest clean and green technologies across sectors should be incentivized by the government. The Government should look for a possible collaboration with institutions which can help MSMEs in their R&D activities.

Mr. Bhatia said that financial assistance should be provided to those units who have successfully adopted and are adopting Quality Standards (TQM), energy efficiency standards and environmental norms, etc. Going forward, units which complied with the latest systems and standards should be encouraged to participate in Government/PSU tenders by providing them the incentives such as EMD/ Security deposit exemptions.

In his concluding remarks Mr. R Narayan, Vice-President, FICCI-CMSME and Founder & CEO, Power2 SME, said that the IT had the power to propel MSME growth with the ability to extend revenue-making opportunities by selling products and services online. MSMEs could also utilize modern technology and the internet as the medium to reduce procurement costs and thus reduce overall cost of goods sold to improve profitability.

Dr. A Didar Singh, Secretary General, FICCI & FICCI-CMSME, said that the programme Make in India should focus on MSMEs as it is the sector which will generate employment and not the big industries where manpower was being replaced with technology. He added that the objective of the summit was to create awareness and understanding among the Indian MSMEs on the various schemes and initiatives being taken by the government and private institutions/organizations for the development of MSME sector.

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Cadila Healthcare gains after partnering with Takeda

Sep 20,2016

The announcement was made during market hours today, 20 September 2016.

Meanwhile, the BSE Sensex was down 95.27 points, or 0.33%, to 28,539.23.

On BSE, so far 92,989 shares were traded in the counter, compared with average daily volume of 1.08 lakh shares in the past one quarter. The stock hit a high of Rs 410.90 and a low of Rs 372.30 so far during the day. The stock hit a record high of Rs 454.40 on 23 October 2015. The stock hit a 52-week low of Rs 295.50 on 18 January 2016. The stock had outperformed the market over the past one month till 19 September 2016, gaining 3.92% compared with Sensexs 1.99% rise. The scrip had also outperformed the market in past one quarter, gaining 23.54% as against Sensexs 7.54% rise.

The large-cap company has equity capital of Rs 102.37 crore. Face value per share is Re 1.

Cadila Healthcare and Takeda Pharmaceutical Company (Takeda) announced a partnership to tackle chikungunya, an emerging infectious disease. The chikungunya virus is most often spread to people by Aedes aegypti and Aedes albopictus mosquitoes, the same vectors that spread dengue and zika. The broad-based agreement includes early stage development to the final commercialisation of the vaccine. There is currently no vaccine to prevent or medicine to treat chikungunya virus infection. Terms of the agreement are not disclosed, but it is expected that this partnership will boost access to medicines in the future through this novel partnership.

Chikungunya has been identified in over 60 countries in Asia, Africa, Europe and the Americas. After the bite of an infected mosquito, onset of illness occurs usually between 4 and 8 days but can range from 2 to 12 days. In some people, the joint pain may persist for months. People at risk for severe indications include newborns infected around the time of birth, older adults (≥65 years), and people with medical conditions such as high blood pressure, diabetes, or heart disease.

Since 2005, India, Indonesia, Maldives, Myanmar and Thailand have reported over 19 lakh cases and almost 13 lakh suspected cases of Chikungunya being recorded in the Caribbean islands, Latin American countries, and the United States of America till 2015.

On a consolidated basis, Cadila Healthcares net profit fell 22.6% to Rs 356.20 crore on 2.2% decline in net sales to Rs 2216.40 crore in Q1 June 2016 over Q1 June 2015.

Cadila Healthcare is a global pharmaceutical company that discovers, manufactures and markets a broad range of healthcare therapies.

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Fiem Industries gains on plans to raise funds

Sep 20,2016

The announcement was made after market hours yesterday, 19 September 2016.

Meanwhile, the S&P BSE Sensex was down 99.45 points or 0.35% at 28,535.58.

On BSE, so far 4,700 shares were traded in the counter as against average daily volume of 8,078 shares in the past one quarter. The stock hit a high of Rs 1,075 and a low of Rs 1,048 so far during the day. The stock had hit a record high of Rs 1,140 on 9 September 2016. The stock had hit a 52-week low of Rs 500 on 18 September 2015. The stock had underperformed the market over the past one month till 19 September 2016, falling 0.42% compared with Sensexs 1.99% rise. The scrip had, however, outperformed the market in past one quarter, gaining 23.29% as against Sensexs 7.54% rise.

The small-cap company has equity capital of Rs 11.96 crore. Face value per share is Rs 10.

Fiem Industries said that the fund raising committee of the board of directors at a meeting held yesterday, 19 September 2016 approved the allotment of 11.97 lakh equity shares of face value of 10 each to qualified institutional buyers at the issue price of Rs 1002 per share, aggregating to Rs 119.99 crore.

Fiem Industries is one of the leading manufacturers of automotive lighting & signaling equipment and rear view mirror.

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Investors Eye Acquisitions in the Highway Sector Worth INR245bn

Sep 20,2016

Investors are keenly looking to pick up stake in projects worth INR245bn of completed highways, with an average of six years of operational history, estimates India Ratings and Research (Ind-Ra). The agency notes that there has been a paradigm shift in the acquisitions - from developers to financial investors. Ind-Ra believes that this is a positive shift and it will give impetus and provide opportunities for the opening up of businesses in the operation and maintenance vertical. Ind-Ra estimates that deals which are yet to be sealed have a debt size of over INR164bn. The activity pipeline has been abuzz in the last three years and Ind-Ra estimates that the highway sector has witnessed transactions of around INR111bn in debt, during February 2013-June 2016.

Ind-Ra, based on publicly available information as well as further limited information received from the issuer, notes that the list of sellers or potential sellers include companies, namely, HCC Concessions, NCC Infrastructure, Soma Enterprises, Reliance Infrastructure Limited (IND A+/RWN) and GMR Infrastructure.

The Indian highway sector is witnessing an enhanced level of activity in the acquisition space, largely led by global marque funds and investors namely, I Squared Capital, Brookfield Asset Management, PSP Investments and Macquaries India Infrastructure Fund among others. These international funds have picked up stake or are in advanced stages of acquisition of around 2,900km length of national and state highway projects. Similarly, domestic financial investors namely, IDFC India Infrastructure Fund and other infrastructure companies such as, Tata Realty and Infrastructure Ltd. have made a mark by showing interest in deals of around 780km length of highways. With Infrastructure Investment Trusts gaining traction, Ind-Ra believes highways, as an asset class will further evolve and will set benchmarks.

Road projects worth over INR400bn, spanning around 3,600km, have either been sold off in the last three years or are currently in the process of being divested. This recent increase in investor appetite could well be sustained, with reports doing the rounds that the government is working towards clearing the roads to provide access for global sovereign wealth funds to invest into private highway projects.

Ind-Ra believes that the National Highway Authority of Indias (NHAI, IND AAA/Stable) 100% exit policy, which was cleared in mid-2015 and road developers bid to deleverage their balance sheet have both aided the momentum in the last year. Ind-Ra had highlighted this in June 2016 in the report Opportunities Manifest Despite Overt Limitations.

A study of the deals shows that out of a total of 40 deals, including the ones in the pipeline, only five projects have been or are likely to be acquired by another corporate house, while institutional investors mostly account for the balance. Barring one project, all the projects have operational history of over six years, which could well be one of the reasons for investors evincing interest, since such projects reveal actual traffic potential. National highways and toll road projects are the most in-demand projects, around 94% of highway projects in the fray are national highway projects and around 87% of the projects are toll-based projects, which normally have a higher potential of giving returns to the acquirer.

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Reliance Infrastructure to hold board meeting

Sep 20,2016

Reliance Infrastructure will hold a meeting of the Board of Directors of the Company on 19 September 2016.